Proof of Stake (PoS) - News, Opinion & and Analysis

Proof of Stake (PoS)

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Proof of stake (PoS) is a type of consensus algorithm used by a public blockchain network to achieve distributed consensys. It is an alternative to the widely known Proof of Work (PoW) consensus algorithm used by Bitcoin and other cryptocurrencies. 

PoS was initially introduced in 2011 on the Bitcointalk forum to solve problems faced by the popular PoW algorithm. In 2012, a cryptocurrency named Peercoin was the first to implement the new consensus algorithm. Since then, a number of leading cryptocurrencies have adopted PoS including NEO, EOS, Cosmos, Waves, Tron, and others. Ethereum is also migrating to a PoS consensus algorithm with its upcoming Casper implementation.

The main advantages of PoS over PoW are energy efficiency, security, reduced centralization risks, new economic penalties to prevent various attacks, and the issuance of new coins can be reduced because participants are incentivised to stake coins to participate in the network rather than mine them. 

In PoS-based public blockchains, new blocks are forged or minted rather than mined like in PoW. The new blocks are minted from a set of validators who lock up their cryptocurrency into a deposit. Validators then receive a reward for staking their tokens and minting new blocks and validators with a larger stake receive more rewards. Therefore, individuals are incentivized to partake in the system. 

While PoS presents various advantages over PoW, it is not without downfalls. Some experts argue that PoS is not ideal for a distributed consensus algorithm, claiming there is a "nothing-at-stake" problem. However, there are different solutions that various projects are working on and implementing to combat issues surrounding PoS.

In this tag you can discover proof of stake (PoS) news, cryptos, opinions and analysis created by knowledgeable individuals on the matter.

Who actually trust staking for Eth 2.0 ? ---> Put your hands up ( possibly "in the air" )

6 Dec 2020 1 minute read 6 comments Ariman

Hello dear friends Publishers&Readers, I would kindly ask you all if you already went straight with staking ETH 2.0 and if so, where and on which platform. In fact, unless you have 32 ETH parked somewhere you don't know what to do, and unless you hav...

Rainbow Wallet Released v2.9.5

5 Dec 2020 1 minute read 0 comments Cosmos Network Family and Friends

Rainbow Wallet v2.9.5 On November 30, 2020, Rainbow Wallet released v2.9.5. This new version optimized UIs and fixed issues reported by the community to provide the better user experience: Optimized UI: IRISnet’s mascot Nyan Cat makes the first appe...

Staking crypto currencies. Is it worth it?

5 Dec 2020 2 minute read 0 comments Ryryry143/Kryptlook

Staking - a super important term you need to know if you are getting into crypto.As you know, crypto currency is all about creating a secure and reliable networks for you and me to transact. There are two types of algorithms that ensure this and diff...

Predix Network (PRDX) × Latoken || DeFi Project, the Future of Prediction Based Reward.

5 Dec 2020 1 minute read 0 comments FreedomBuilder

  🎁 Total Reward: Receive up to 0.54 PRDX for social tasks.👥 Referral: 5.40 PRDX for each invited friend. 📈 Sign-up on Latoken Exchange and complete KYC with TIER 2. 💎 Start Predix Telegram Airdrop Bot. 🔶 Airdrop Terms and conditions:📌 Start Telegram...

Oasis Network token Rose is a growing flower

4 Dec 2020 1 minute read 0 comments Cryptofab

Oasis Network is an ambitious project which deserves a bit of attention. It is one of the best options to protect data, and there is for sure a need for that. Furthermore, it ambitions to create DeFi projects on its Proof-Of-Stake blockhain, with fee...

ETH 2.0 Upgrade

2 Dec 2020 2 minute read 0 comments CPix

Ethereum, the most valuable ($67B) smart contract enabled public blockchain, has begun its much anticipated transition to a Proof of Stake Network enabling exponential scale and added utility to the “Internet of Money”.   Yesterday, December 1, 2020,...

Problems of Proof of Stake

2 Dec 2020 1 minute read 2 comments yanis

Proof of Stake is often considered as the successor of Proof of Work (and even more with ethereum 2.0), because of it's more scalable and energy efficient. But there's also problems...   Nothing-to-stake security problem A part of PoW security is tha...

ETH2.0 Resources

2 Dec 2020 1 minute read 1 comment CPix

With the recent launch of ETH2.0 Phase 0 "Beacon Chain" I figured I'd put together a collection of resources for anyone to learn more about the Ethereum ecosystem from Eth1.x to ETH2.0 Phases. Reports Messari ETH2 Report:

ETH 2.0 Goes Live and Launch Has Been a Success!

2 Dec 2020 1 minute read 3 comments MakeItReal

As anticipated in recent days, yesterday December 1st, the first fundamental step of the transition from the Proof Of Work (POW) consensus mechanism to the Proof Of Stake (POS) took place successfully thanks to the successful Beacon Chain genesis. Th...

Hive @leofinance witness steps up on 33rd place and soon challenges Top 30

2 Dec 2020 1 minute read 0 comments Behiver

LEO Finance growth is sustained by numbers and the economics is supported by ongoing projects development. December will be a hot month for this community that expects a new product in the form of a microblogging module which could be a game changer...